CIF worry at 20% mortgage deposit

The Construction Industry Federation is to meet the Central Bank today ahead of tomorrow’s expected decision on mortgage deposit rules.

The meeting, which was sought by the Central Bank, is expected to focus on the Central Bank’s mortgage policy proposals, the house building market and the advancement of the Government’s Construction 2020 strategy.

Over the weekend, it was reported that the Central Bank is looking at introducing a 15% mortgage requirement, rising by 1% per year over the next five years to 20%.